Diodes (NASDAQ:DIOD) Upgraded at Wall Street Zen

Diodes (NASDAQ:DIOD) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.

Several other research firms have also weighed in on DIOD. Benchmark reissued a “buy” rating and set a $62.00 price target (up from $55.00) on shares of Diodes in a research report on Friday, June 13th. Robert W. Baird upgraded Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Monday, April 7th. Finally, Baird R W upgraded Diodes from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $55.00.

Diodes Stock Down 0.9%

NASDAQ:DIOD opened at $48.91 on Friday. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 88.93 and a beta of 1.47. Diodes has a 1-year low of $32.93 and a 1-year high of $72.76. The company has a current ratio of 3.43, a quick ratio of 2.11 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average price is $51.76 and its 200 day moving average price is $48.78.

Diodes (NASDAQ:DIOD) last posted its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $332.11 million for the quarter, compared to analyst estimates of $323.28 million. Diodes had a return on equity of 3.04% and a net margin of 1.90%. Diodes’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. On average, sell-side analysts forecast that Diodes will post 1.82 earnings per share for the current fiscal year.

Diodes announced that its board has initiated a stock repurchase program on Thursday, May 8th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Diodes

Several large investors have recently made changes to their positions in DIOD. Hood River Capital Management LLC bought a new stake in shares of Diodes during the 4th quarter worth about $72,037,000. Norges Bank bought a new stake in shares of Diodes during the 4th quarter worth about $33,933,000. Global Alpha Capital Management Ltd. boosted its stake in shares of Diodes by 107.6% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 539,170 shares of the semiconductor company’s stock worth $23,276,000 after acquiring an additional 279,400 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Diodes during the 1st quarter worth about $8,679,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Diodes by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,238,567 shares of the semiconductor company’s stock worth $138,053,000 after acquiring an additional 168,545 shares in the last quarter. Institutional investors own 99.23% of the company’s stock.

Diodes Company Profile

Diodes Incorporated, together with its subsidiaries, manufactures and supplies application-specific standard products in the broad discrete, logic, analog, and mixed-signal semiconductor markets worldwide. The company offers discrete semiconductor products, such as MOSFETs, SiC MOSFETs; data line protection, power line protection, thyristers, USB Type-C protection, and transient voltage suppressors; Schottky, small signal switching, Zener, and SiC diodes; bridges, super barrier, Schottky, Schottky bridge, and fast/ultra-fast rectifiers; and bipolar, avalanche, gate driver, and pre-bias transistors.